Finance (Customs Duties) (No. 4) Act, 1932
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Continuation of licences to import. |
15.—Wherever— | |
(a) a duty of customs (in this section referred to as the new duty) is imposed by this Act on articles of a specified description, and | ||
(b) a power is conferred by this Act on any person to issue licences for the importation of articles of the said description without payment of the new duty, and | ||
(c) immediately before the commencement, by virtue of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927), of the new duty, articles of the said description were subject to a duty of customs (in this Act referred to as the old duty) howsoever imposed, and | ||
(d) immediately before such commencement power was vested in some person to issue licences for the importation of articles of the said description without payment of the old duty, and | ||
(e) licences (in this section referred to as existing licences) were issued under the last-mentioned power before such commencement and were unrevoked, unexpired, and unexhausted at such commencement, | ||
there and in every such case every such existing licence shall continue in force in accordance with the terms thereof with the substitution therein of the new duty for the old duty and subject to revocation at any time by the person having power to issue licences in respect of the new duty. |